Brave New Wealthy World: Winning the Struggle for World Prosperity

Chapter 5. Three Defective National Financial Systems and Attributes of a Better One

From the picture window of the 12th-floor Manila apartment, I could see half-completed buildings. They looked like tall luxury apartment buildings, and the bright tropical sunlight made them stand out. I could see a wide swath of the neighborhood. In all directions I could see half-completed buildings. Most looked as if they were going to be luxury apartment buildings, like the one I was in. A few looked as if they were going to be office buildings or shopping centers. There were also luxury houses with lawns and gardens of brightly colored flowers. Every house was surrounded by high walls. Some of the houses were in rows, each facing the street and each surrounded ...